Quarterly report pursuant to Section 13 or 15(d)

Class A Ordinary Shares Subject to Possible Redemption

v3.22.2.2
Class A Ordinary Shares Subject to Possible Redemption
6 Months Ended
Jun. 30, 2022
Class A Ordinary Shares Subject to Possible Redemption [Abstract]  
Class A Ordinary Shares Subject to Possible Redemption
Note 6 - Class A Ordinary Shares Subject to Possible Redemption

The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 100,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. As of June 30, 2022 and December 31, 2021, there were 34,500,000 Class A ordinary shares outstanding, which were all subject to possible redemption and are classified outside of permanent equity in the balance sheet.

The Class A ordinary shares subject to possible redemption reflected on the balance sheet is reconciled on the following table:

Gross proceeds
 
$
345,000,000
 
Less:
       
Fair value of Public Warrants at issuance
   
(17,250,000
)
Offering costs allocated to Class A ordinary shares subject to possible redemption
   
(18,910,850
)
Plus:
       
Accretion on Class A ordinary shares subject to possible redemption amount
   
36,160,850
 
Class A ordinary shares subject to possible redemption as of December 31, 2021
 

345,000,000
 
Increase in redemption value of Class A ordinary shares subject to possible redemption
    94,152  
Class A ordinary shares subject to possible redemption as of March 31, 2022
 
345,094,152  
Increase in redemption value of Class A ordinary shares subject to possible redemption
 
515,152
 
Class A ordinary shares subject to possible redemption as of June 30, 2022   $ 345,609,304